First of all let me start with the fact that we do not have children, just yet. We are working on having kids and currently we both work full-time office jobs. We finally realized the other day that we want me (the wife) to start to stay at home. There are many reasons behind this but I won't go into it now.
I will be working on getting my cake business up and running so that I may provide a second income. We really want this to happen soon because we know that we have been pushing it off for too long. So I am asking for suggestions or tips from others who have experienced this before.
To give you a glimpse of our financial situation: My husband’s finances will cover our bills (if we sell one of our cars) with $50 to spare at the end of the month. In the bills I'm including groceries, gas, etc.
I do plan on working a couple temp jobs, like 5-10 /month to bring in extra cash until the cake business really picks up.
I would really appreciate to hear from everyone! :o)
2006-10-12 04:34:56 · 22 answers · asked by Julie 3 in Family & Relationships ➔ Marriage & Divorce
I do know we will need more finances for children, which is why I would like time to get the cake business going.
Thank you :o)
2006-10-12 04:39:56 · update #1
People always worry about money when the wife decides to stay home or when having a baby, trust me things will work out. Personally I think it's great that you will be at home especially when you have kids. Having a little side job is great, we went through a rough spot awhile back and I went out and got a little job delivering pizzas for a couple years, we got back on our feet and we are fine. Some of my friends take in after school kids for extra $$. There are a lot of options. Good luck and don't worry it will stress you.
$50.00 is not alot, somethings have got to go. Car payment , cell phone, something until you can manage having extras get rid of them for now.
2006-10-12 05:04:10 · answer #1 · answered by Anonymous · 2⤊ 0⤋
Would there be any way for you to work part time at your office job until your cake business has some clients? Maybe you could do Christmas, Birthday cakes while working part time. $50 left a month is not much at all. What would happen if the car broke down? You had a wreck and had to pay a deductible? Washing machine, refrigerator broke? See what a mean. You have to plan for the unexpected, if you don't they will bite your *ss! I would try working at my current job part time first, if possible. You are already there and it would be much easier going part time there, then looking for temp jobs. Good Luck.
2006-10-12 04:44:18 · answer #2 · answered by GreeneyedCowgirl 5 · 2⤊ 0⤋
It doesn't sound to me like you are in a financial situation to stay at home . Fifty dollars to spare at the end of the month is nothing. What are you going to do when the car breaks down, the hot water heater breaks, the roof leaks, ect.
I understand that you plan to start a business of your own, but with also planning on having a child, how is it you plan to have time to run a business? Have you ever had a business of your own? I can tell you from experience that running your own business is much more time consuming than a 40 hour per week job. How do you plan to finance this business? I think you have a lot more to think about before taking such a serious step.
2006-10-12 04:48:11 · answer #3 · answered by kandekizzez 4 · 3⤊ 1⤋
As long as you can make enough cash from the cake business, this will be OK. With the current situation, I hope you have some savings to back you up because if you have an unexpected bill you may be in trouble. It is never good to work out finances leaving them that tight at the end of the month. I would get some savings behind you if you haven't already.
2006-10-12 04:37:35 · answer #4 · answered by claire 5 · 1⤊ 2⤋
Run your cake business from home...If you can't manage with the space you have, look at getting a home that suits this desire.
Your ability to bring in money doesn't have to end just for staying at home. There are also options like opening a dayhome, taking care of a couple kids because you plan to be home with yours.
This is a two income world now... having your husband carry the load will work for awhile, but over all it will not be easy and it will not allow for you to save for your children's future.
2006-10-12 04:50:46 · answer #5 · answered by Deactivate account 2 · 0⤊ 1⤋
Hi Julie: I have been a stay at home mom and wife for a number of years. My husband and I talked about this before we got married. This was our plan. We were engaged for five years, during that time we both worked and lived at home and saved our money, that money bought us our house so we had no mortgage payment. After we moved into the house I did work for five more years and banked my paychecks. My husband makes good money so I was able to do this. When I became pregnant for my first daughter I stayed at home permanently and 11 mo later had my second daughter. I have been home ever since. I enjoy being at home and never regretted it. I find we actually spend less money because I am home to cook and my job as a social worker was demanding and I was on the road constantly thus having a car payment as I traded cars every two years. My girls are 21 and 20 now and are in college on full scholarships which I attribute to my teaching them at home the things that the teachers didn't in school. Good luck to you. Some of my friends have tried this and went back to work and found sitters for the kids. I never wanted anyone else raising my children so it was the right decision for me.
2006-10-12 04:45:09 · answer #6 · answered by goodbye 7 · 2⤊ 2⤋
in order to get your business up and running your are probley going to need a second car actually for a cake business a van putting all of the financial or most of it at least is going to put a strain on your husband sooner then later. i hope you sat down with a financial adviser and set out a plan of some sort bc a business takes $$ from you or from a bank loan which will need to be paid back. and there is always rainy day $$ in case of an emergency $50 extra a month is not going to cover that. i hope your business is successful and brings you years of happiness and joy, but more then that i hope you really sit down and have a good idea about what you are getting yourself into
2006-10-12 04:44:58 · answer #7 · answered by rachelhaggerty82 1 · 2⤊ 2⤋
one tip: Do not sit in front of the tv and stuff yourself with that cake all day. that would not be good for your marriage.
And I agree with the previous answer. Things will work out financially. I don't give a flyin *** about living like the Jonesses, and people can drive nice cars and live in whatever kind of house they want, but my oldest daughter hasn't even started school (she's not 6 yet) and she can read and write and do simple math because my wife stays at home and teaches her.
This means a lot to me.
2006-10-12 05:49:26 · answer #8 · answered by Anonymous · 1⤊ 0⤋
50.00 left over to spend at the end of the month?!?!?!?!?!?! are you crazy?!?! what would happen if a bill sprung up out of the blue, or your husband had a heart attack?! is your medical going to cover EVERYTHING!? Are you totally sure that your "temp" jobs are going to cover all the expenses when your husband goes out of work. I think that you should still work in your full time job and get your buisness going on your own time. Lots of people did this, including me, and I'm very successful. Set up a real schedule and work on it instead of watching TV at night. This is called responsibility and multi-tasking. I'm not going to be able to change your mind but fifty dollars at the end of the month really isn't much to get by. Plus have you thought of the costs to getting your buisness license and your house inspected by the safety and food inspectors??? if not, someone could report you and you could loose your buisness. I hope this answer really opens your eyes to see the real world and the stuff you really have to do to get a food run buisness going.
2006-10-12 04:58:43 · answer #9 · answered by ♥ღαмαиdα♥ღ 7 · 1⤊ 2⤋
Go to the library and check out and read the book "The Tightwad Gazette" by Amy Dycyzyn. I hope I spelled her name right. I have been a stay at home wife for many years due to a disability and the tips here have been invaluable. Among the most useful are making and using a price book, hanging up laundry and not using the dryer and stocking up when there is a sale. I also use public transportation, the library and shop at thrift stores and garage sales.
2006-10-12 04:40:44 · answer #10 · answered by madamesophia1969 5 · 2⤊ 2⤋